Understanding Scarcity
A worksheet for Grade 3 students to learn about scarcity, needs, and wants in economics.
Includes
Standards
Topics
Understanding Scarcity
Name:
Date:
Score:
Read each question carefully and answer to the best of your ability. This worksheet will help you understand what scarcity means and how it affects our choices.
What is Scarcity?
Scarcity means that there is not enough of something for everyone who wants it. Because of scarcity, people have to make choices.
Complete the sentences using words related to scarcity.
1. When there is not enough of something for everyone, it is called .
2. Because of scarcity, we have to make .
3. A is something you must have to live, like food or water.
4. A is something you would like to have, but do not need to live, like a new toy.
Choose the best answer for each question.
1. Which of these is an example of scarcity?
There are enough pencils for every student in the class.
There are only 5 apples, but 10 children want an apple.
Everyone has a favorite color.
The sun shines every day.
2. Which of these is a need?
A new video game
A warm coat in winter
A trip to the moon
A pet unicorn
Read each statement. Circle T for True or F for False.
1. Scarcity means everyone can have everything they want.
True
False
2. Your wants are things you need to stay alive.
True
False
1. Imagine you have only one cookie, but two friends want it. What choice would you make because of scarcity? Explain why.
Use the words below to complete the sentences.
1. When there is not enough of something, we have to make .
2. Food, water, and shelter are examples of .
3. A new toy or a fancy meal are examples of .
4. The problem of not having enough resources to satisfy all our desires is called .